IBM's transformation continues; also see IBM Revenue Falls 13% Despite Big Gains in New Fields (NYT)
"As demand has tumbled for products across all of IBM’s major segments -- services, software and hardware -- Rometty has divested unprofitable businesses and invested in creating new units around cloud computing and the Watson data-analytics tool. Still, the new isn’t growing fast enough to offset the declines of the old.IBM Drops After Revenue Declines for 13th Straight Quarter - Bloomberg Business
“The falloff in IBM’s traditional businesses is dwarfing the company’s ability to capture new revenue opportunities as the market shifts,” Toni Sacconaghi, an analyst at Sanford C. Bernstein & Co. wrote in a note Monday before the results were announced."
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